Primary Health Properties acquires Chiswick Medical Centre in London
This acquisition will increase PHP's portfolio to a total of 524 assets.
Primary Health Properties, one of the UK's leading investors in modern primary healthcare facilities, announced that it has acquired the Chiswick Medical Centre, London for a total consideration of £34.5 million.
The property is fully let to HCA International Ltd with an unexpired term of just under 20 years and benefits from five yearly annually compounded RPI led rent reviews.
The property has been subject to a comprehensive tenant led fit-out to create a bespoke diagnostic and private healthcare facility providing some of the best medical technology available in London.
The facility provides a number of services and expert teams specialising in neurology, cardiology, orthopaedics, urology and gastroenterology as well as women's healthcare services and a dedicated children's unit.
This acquisition will increase PHP's portfolio to a total of 524 assets, of which 20 are in Ireland, with a contracted rent roll of just under £143 million.